Chronic wound care to see fast growth in APAC

There has been presence of several large companies in India and China.

Asia Pacific is expected to register a high growth rate for the chronic wound care market in the coming years, driven by the presence of several large scale companies in countries such as India and China, a report from Fortune Business Insights revealed.

Chronic wounds refer to diseases that have not been successfully treated during the process of treatment of repair. The costs associated with chronic wounds are much higher than normal disease treatment, the report noted.

The market globally was worth $10.12b in 2019 and is projected to register a compound annual growth rate (CAGR) of 6.2% from 2020 to 2027. “The high prevalence of the disease will create several growth opportunities for the companies operating in the market,” the report stated.

The high emphasis on early detection and treatment of chronic diseases will also contribute to market growth. Chronic wounds can result in potentially life-threatening conditions, which has created huge awareness regarding the treatment of the disease.

“The presence of several large scale healthcare companies, coupled with the massive investments in product R&D, will emerge in favor of growth of the overall chronic wound care market in the coming years,” the report added.